Condo ownership can be likened to a long-term personal relationship.
This is probably most relevant in residential examples; your home tends to be more sentimental than your work environment.
You spend a lot of time at work. Due to that time investment into your business you want to do everything to ensure a property will serve you for the long run.
The markets are pricing in five, quarter point interest rate increases in 2022 which will result in commercial mortgage rates ranging between 4 to over 5 per cent.
What will be the consequences of this increase to the commercial real estate investment market?
One year ago, I predicted that the Saskatoon Industrial vacancy rate would slip under 5 per cent by year end. It was sitting at 5.32 per cent at that time.
We’re just about to release our 4Q 2021 market reports which will show that the average industrial vacancy rate declined by 1.33 per cent to 3.99 per cent.
With a positive net absorption of 42,147 SF quarter over quarter, that rate of decline accelerated after a 1.23 per cent drop that took place over the two previous years.
There has never been a better time to cash-out of your Saskatchewan industrial and retail commercial real estate.
While there is currently demand from owner occupants for office buildings, that demand however is not the same for multi-tenant office due to typically higher vacancy in that particular asset class.
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